Live Oak Bancshares (NASDAQ:LOB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Live Oak Bancshares (NASDAQ:LOB - Free Report) had its target price raised by Keefe, Bruyette & Woods from $34.00 to $36.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a market perform rating on the bank's stock.

Separately, Wall Street Zen lowered shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th.

Live Oak Bancshares Trading Down 0.7%

Shares of LOB traded down $0.23 on Friday, reaching $32.32. The company's stock had a trading volume of 147,989 shares, compared to its average volume of 247,138. Live Oak Bancshares has a twelve month low of $22.68 and a twelve month high of $50.57. The stock has a market capitalization of $1.47 billion, a PE ratio of 22.29 and a beta of 1.84. The firm has a fifty day moving average of $28.73 and a 200-day moving average of $30.56.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were paid a $0.03 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.12 annualized dividend and a yield of 0.37%. Live Oak Bancshares's dividend payout ratio (DPR) is 9.23%.

Insider Buying and Selling

In other news, Director William Henderson Cameron acquired 5,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $25.92 per share, for a total transaction of $129,600.00. Following the purchase, the director owned 11,904 shares in the company, valued at approximately $308,551.68. This represents a 72.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 23.40% of the company's stock.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOB. Capital International Investors grew its position in shares of Live Oak Bancshares by 75.8% during the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock valued at $80,749,000 after acquiring an additional 880,530 shares during the period. Millennium Management LLC grew its position in shares of Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the bank's stock valued at $18,339,000 after acquiring an additional 596,841 shares during the period. Nuveen LLC bought a new position in shares of Live Oak Bancshares during the 1st quarter valued at approximately $8,116,000. Citigroup Inc. grew its position in shares of Live Oak Bancshares by 428.2% during the 1st quarter. Citigroup Inc. now owns 295,250 shares of the bank's stock valued at $7,871,000 after acquiring an additional 239,356 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Live Oak Bancshares by 1,263.2% during the 1st quarter. Jane Street Group LLC now owns 201,816 shares of the bank's stock valued at $5,380,000 after acquiring an additional 187,011 shares during the period. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.